Federal Reserve chairman Ben Bernanke on Thursday hinted that another interest rate cut may be needed to bolster the economy. The worsening credit crunch, a deepening housing slump and rising energy prices probably will create some "headwinds for the consumer in the months ahead," he said. ...more

November 30, 2007

Rising foreclosures will lead to billions of dollars in lost economic activity next year in the nation's major metropolitan areas, but homeowners and financial institutions have the ability to work together to contain the effects, according to a report compiled for the U.S. Conference of Mayors. ...more

November 28, 2007

OPEC sought to reassure jittery oil markets Tuesday by agreeing to boost crude production by 500,000 barrels a day - a move the cartel conceded was prompted partly by 'clouds on the horizon' from the U.S. housing slump. ...more

September 12, 2007

For the first time in four years, employers have cut jobs, raising new fears that a deep housing slump and painful credit crunch could push the economy into a recession. ...more

September 8, 2007